Download PDF Business Law The Ethical, Global, and E-Commerce Environment FIFTEENTH EDITION by Jane P. Mallor and A. James Barnes

Sinopsis

Constitutions Constitutions, which exist at the state and federal levels, have two general functions. 1 First, they set up the structure of government for the political unit they control (a state or the federal government). This involves creating the branches and subdivisions of the government and stating the powers given and denied to each. Through its separation of powers, the U.S. Constitution establishes the Congress and gives it power to make law in certain areas, provides for a chief executive (the president) whose function is to execute or enforce the laws, and helps create a federal judiciary to interpret the laws. The U.S. Constitution also structures the relationship between the federal government and the states. In the process, it respects the principle of federalism by recognizing the states’ power to make law in certain areas. The second function of constitutions is to prevent other units of government from taking certain actions or passing certain laws. Constitutions do so mainly by prohibiting government action that restricts certain individual rights. The Bill of Rights to the U.S. Constitution is an example.

Common Law The common law (also called judgemade law or case law) is law made and applied by judges as they decide cases not governed by statutes or other types of law. Although common law exists only at the state level, both state courts and federal courts become involved in applying it. The common law originated in medieval England and developed from the decisions of judges in settling disputes. Over time, judges began to follow the decisions of other judges in similar cases, called precedents. This practice became formalized in the doctrine of stare decisis (let the decision stand). As you will see later in the chapter, stare decisis is not completely rigid in its requirement of adherence to precedent. It is fl exible enough to allow the common law to evolve to meet changing social conditions. The common law rules in force today, therefore, often differ considerably from the common law rules of earlier times. The common law came to America with the fi rst English settlers, was applied by courts during the colonial period, and continued to be applied after the Revolution and the adoption of the Constitution. It still governs many cases today. For example, the rules of tort, contract, and agency discussed in this text are mainly common law rules. In some instances, states have codified (enacted into statute) some parts of the common law. States and the federal government also have passed statutes superseding the common law in certain situations. As discussed in Chapter 9, for example, the states have established special rules for contract cases involving the sale of goods by enacting Article 2 of the Uniform Commercial Code.

Content

1. The Nature of Law 
2. The Resolution of Private Disputes 
3. Business and the Constitution 
4. Business Ethics, Corporate Social Responsibility, Corporate Governance, and Critical Thinking 
5. Criminal Law and Procedure 
6.  Intentional Torts 
7. Negligence and Strict Liability 
8. Intellectual Property and Unfair Competition
9. Introduction to Contracts 
10. The Agreement: Offer 
11. The Agreement: Acceptance 
12. Consideration 
13. Reality of Consent 
14. Capacity to Contract 
15. Illegality 
16. Writing 
17. Rights of Third Parties 
18. Performance and Remedies
19. Formation and Terms of Sales Contracts 
20. Product Liability 
21. Performance of Sales Contracts 
22. Remedies for Breach of Sales Contracts
23. Personal Property and Bailments 
24. Real Property 
25. Landlord and Tenant 
26. Estates and Trusts 
27. Insurance Law
28. Introduction to Credit and Secure Transactions 
29. Security Interests in Personal Property 
30. Bankruptcy
31.  Negotiable Instruments
32. Negotiation and Holder in Due Course
33. Liability of Parties
34. Checks and Electronic Transfers
35. The Agency Relationship
36. Third-Party Relations of the Principal and the Agent
37. Introduction to Forms of Business and Formation of Partnerships
38. Operation of Partnerships and Related Forms 
39. Partners’ Dissociation and Partnerships’ Dissolution and Winding Up 
40. Limited Liability Companies, Limited Partnerships, and Limited Liability Limited Partnerships
41. History and Nature of Corporations 
42. Organization and Financial Structure of Corporations 
43. Management of Corporations 
44. Shareholders’ Rights and Liabilities 
45. Securities Regulation 
46. Legal and Professional Responsibilities of Auditors, Consultants, and Securities Professionals
47. Administrative Law 
48. The Federal Trade Commission Act and Consumer Protection Laws 
49. Antitrust: The Sherman Act 
50. The Clayton Act, the Robinson–Patman Act, and Antitrust Exemptions and Immunities 
51. Employment Law 
52. Environmental Regulation

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